U.S. Job Market Remains Strong Despite Fed Rate Hikes

U.S. job openings rose slightly to 9.6 million in September, indicating continued strength in the labor market despite higher interest rates.

Layoffs fell to 1.5 million in September from 1.7 million in August, showing high job security for workers.

Number of Americans quitting jobs was virtually unchanged, suggesting confidence in finding better opportunities.

Job openings are down from a record 12 million in March 2022 but remain historically high.

Fed hopes to cool the hot job market to contain inflation, but hiring pressures may push employers to raise wages further.